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Statements RUN DATE 04/04/2011 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 03/01/2011 TO 03/31/2011 Date Interest Principal 03/01/2011 BEGINNING BALANCE RECEIPTS 04/01/2011 6,517.50 DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED INTEREST PRINCIPAL PAYDOWNS OFFSETS 03/31/2011 ENDING BALANCE 6,517.50 ***THIS IS NOT A BILLING STATEMENT*** RUN DATE 05/03/2011 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 04/01/2011 TO 04/30/2011 Date Interest Principal 04/01/2011 BEGINNING BALANCE 6,517.50 RECEIPTS 04/01/2011 7,036.25 DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED INTEREST 13,553.75- PRINCIPAL PAYDOWNS OFFSETS 04/30/2011 ENDING BALANCE ***THIS IS NOT A BILLING STATEMENT*** RUN DATE 10/04/2011 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 09/01/2011 TO 09/30/2011 Date Interest Principal 09/01/2011 BEGINNING BALANCE RECEIPTS 10/01/2011 13,553.75 165,000.00 DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED INTEREST PRINCIPAL PAYDOWNS OFFSETS 09/30/2011 ENDING BALANCE 13,553.75 165,000.00 ***THIS IS NOT A BILLING STATEMENT*** RUN DATE 11/02/2010 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA • CITY OF ONI GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 10/01/2010 TO 10/31/2010 Date Interest Principal 10/01/2010 BEGINNING BALANCE 16,647.50 165,000.00 RECEIPTS DISBURSEMENTS CO-AGENTS CALLS MATURITIES 165,000.00- COUPON PAYMENTS REGISTERED INTEREST 16,647.50- PRINCIPAL PAYDOWNS • OFFSETS 10/31/2010 ENDING BALANCE ***THIS IS NOT A BILLING STATEMENT*** • #yaa • EXCEPT AS OTHERWISE PROVIDED IN THE RESOLUTION (DESCRIBED HEREIN), THIS GLOBAL BOND MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY (DESCRIBED HEREIN) OR TO A SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR SECURITIES DEPOSITORY. REGISTERED REGISTERED NUMBER R-8 $165,000 UNITED STATES OF AMERICA STATE OF KANSAS • • COUNTY OF SALINE CITY OF SALINAv "" GENERAL OBLIGATIONTNTER�NALLIMPROVEM ENT BOFD•.. • •• • • SERIES 2002=3—AU ••• • •••• Interest Maturity Dated ,CUSFr',••:• Rate: 3.75% Date: October 1, 2010 Date: July 15, 2002 .6.. 794743 YX6 •••• REGISTERED OWNER: CEDE &CO •..•.• PRINCIPAL AMOUNT: ONE HUNDRED SIXTY-FIVE THOUSAND DOLLARS ••••• • KNOW ALL PERSONS BY THESE PRESENTS: That the City of Salina, in the County of • Saline, State of Kansas (the "City"), for value received, hereby acknowledges itself to be indebted and promises to pay to the registered owner identified above, or registered assigns, as of the Record Dates as hereinafter provided on the Maturity Date identified above, the Principal Amount identified above, and in like manner to pay interest on such Principal Amount from the Dated Date shown above or from the most recent interest payment date to which interest has been paid or duly provided for at the rate of interest per annum set forth above (computed on the basis of a 360-day year of twelve 30-day months), semiannually on April 1 and October 1 of each year, commencing April I, 2003 (the "Interest Payment Dates"), until the Principal Amount is paid, unless this Bond shall have been previously called for redemption and payment as hereinafter set forth. The principal of, premium, if any, and interest on this Bond shall be payable by the Treasurer of the state of Kansas,Topeka, Kansas (the "Paying Agent" and "Bond Registrar"). The principal of and any premium on this Bond shall be payable to the registered owner hereof upon presentation of this Bond at the maturity or redemption date to the Paying Agent for payment and cancellation. The interest payable on this Bond on any interest payment date shall be paid to the person in whose name this Bond is registered on the Bond Register at the close of business on the fifteenth day of the month preceding the interest payment date (the "Record Date") for such interest (a) by check or draft mailed by the Paying Agent to such Registered Owner at the address shown on the Bond Register or at such other address as is furnished to the Paying Agent in writing by such Registered Owner or (b) in the case of an interest payment to any Registered Owner of $500,000 or more in aggregate principal amount of Bonds, by • electronic transfer to such Registered Owner upon written notice given to the Paying. }}, h 1 h��i�}'t.�'st�l'Fr Registered Owner not less than 15 days prior to the I egoF ,IJat tiprseeht9Mt egi; co> itp&tt} • electronic transfer inistru tiso{�s�;il}cl&mg thersfid} 'iol cbLshall;_lte ituithe @dfrtirrerltael r th:less F.•-� StlPPt. Y, i,-a e ,„�;d'��e!2c�§1tA . in'st. Coi ,p..r.5; x;55 t. � e. ex�.ttuuyev+"k+`+Y •,�• uuu wt ecru+ B o , kCIV i'kANSFL: I ntst. C non at1'_aanxier._- and any payment 1s made to Cet T Sc uY Y0_ cede&Co. tt t �., "v: , nae or L m the name ok _. - -_: cede i? co. ;:.17GCO l.'"1." since he leg ,! :ceu uwnei b e t C- pEiRSON ;;titt?Ft ,hy teln. • address, ABA routing number and account number to which such Registered Owner wishes to have such transfer directed. The principal, premium, if any, and interest on the Bonds shall be payable in any coin or currency which,on the respective dates of payment thereof, is legal tender for the payment of debts due the United States of America. The Bonds constitute general obligations of the City payable as to both principal and interest in part from special assessments levied upon the property benefited by the construction of certain portions of the improvements being financed and, if not so paid, from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The balance of the principal and interest on the Bonds shall be payable from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The full faith, credit and resources of the City are irrevocably pledged for the payment of the principal of and interest on this Bond and the issue of which it is a part as the same respectively become due. • This Bond is one of an authorized series of Bonds of the City designated "General Obligit on Internal Improvement Bonds, Series 2002-B," in an aggregate principal amount of $1,9S0,l1Q1 .lie "Bonds") issued for the purposes set forth in the Ordinance of the City authorizing the iesuance oSthe •••• Bonds and the Resolution of the City prescribing the form and details of the Bond (ioit ttrtl "Resolution"). The Bonds are issued by the authority of and in full compliance . :e provTiibtts, restrictions and limitations of the Constitution and laws of the state of Kansas, including, :sitheat limitation, K.S.A. 10-101 et seq., K.S.A. 12-6a01 et seg. and K.S.A. 12-1736 et seq.,ail•as•.mendcd. • • • •••• •• • At the option of the City, Bonds maturing on October 1, 2013, and thereafter may be called fc'ir redemption and payment prior to maturity on October 1, 2012 and thereafter, in whole at any ti ms part on any interest payment date in such principal amounts for such maturities as shall be determined by • • the City at the redemption price of 100% (expressed as a percentage of the principal amount), plus accrued interest thereon to the date of redemption. Unless waived by any owner of the Bonds to be redeemed, if the City elects to call any Bonds for redemption and payment prior to maturity, the City or the Bond Registrar and Paying Agent on behalf of the City shall give written notice of its intention to call and pay such Bonds on a specified date, the same being described by maturity, such notice to be mailed by United States first class mail addressed to the Owners of the Bonds not less than 30 days prior to the date fixed for redemption. All Bonds so called for redemption and payment shall cease to bear interest from the date for which such call is made, provided funds are available for the payment of such Bonds at the price specified above. The Bonds are being issued by means of a book-entry system with no physical distribution of bond certificates to be made except as provided in the Resolution. One Bond certificate with respect to each date on which the Bonds are stated to mature, registered in the nominee name of the Securities Depository, is being issued and required to be deposited with the Securities Depository and immobilized in its custody. The book-entry system will evidence positions held in the Bonds by the Securities Depository's participants, beneficial ownership of the Bonds in authorized denominations being evidenced in the records of such participants. Transfers of ownership shall be effected on the records of the Securities Depository and its participants pursuant to rules and procedures established by the Securities Depository and its participants. The City, the Bond Registrar and the Paying Agent will recognize the Securities Depository nominee, while the registered owner of this Bond, as the owner of this Bond for all purposes, including (i) payments of principal of, and redemption premium, if any, and interest on, this Bond, (ii)notices and (iii) voting. Transfers of principal, interest and any redemption premium payments to participants of the Securities Depository, and transfers of principal, interest and any redemption premium payments to beneficial owners of the Bonds by participants of the Securities • -2- • Depository will be the responsibility of such participants and other nominees of such beneficial owners. The City, the Bond Registrar and the Paying Agent will not be responsible or liable for such transfers of payments or for maintaining, supervising or reviewing the records maintained by the Securities Depository, the Securities Depository nominee, its participants or persons acting through such participants. While the Securities Depository nominee is the owner of this Bond, notwithstanding the - provision hereinabove contained, payments of principal of and interest on this Bond shall be made in accordance with existing arrangements among the City, the Bond Registrar and the Securities Depository. EXCEPT AS OTHERWISE PROVIDED IN THE RESOLUTION, THIS GLOBAL BOND MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY OR TO A SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR SECURITIES DEPOSITORY. The Bonds are issued in fully registered form in the denomination of 55,000 or any integral multiple thereof. This Bond may be exchange altthe office of the Bond Registrar for a like aggregate principal amount of Bonds of the same maturity gcQther • authorized denominations upon the terms provided in the Resolution. •'• •••• • • The City and the Bond Registrar may deem and treat the registered owner hereof as the fbsolvje owner hereof for purposes of receiving payment of or on account of principal he;eof,ytjd inter�!'l'due • hereon and for all other purposes and neither the City nor the Bond Registrar shall be affected k .any notice to the contrary. •••• • • • • • •••• • •This Bond is transferable by the registered owner hereof in person or by the registered¶ i efs agent duly authorized in writing, at the office of the Bond Registrar, but only in the manner, subject.tothe limitations and upon payment of the charges provided in the Resolution and upon surrenae•.and • cancellation of this Bond. The City shall pay all costs incurred in connection with the issuance, payment and initial registration of the Bonds and the cost of a reasonable supply of bond blanks. The City and the Bond Registrar shall not be required to issue, register, transfer or exchange any Bonds during a period beginning on the day following the Record Date preceding any Interest Payment Date and ending at the close of business on the Interest Payment Date or Bonds which have been called for redemption in accordance with Article III of the Resolution. IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions, and things required to be done and to exist precedent to and in the issuance of this Bond have been properly done and performed and do exist in due and regular form and manner as required by the Constitution and laws of the state of Kansas, and that the total indebtedness of the City, including this series of bonds, does not exceed any constitutional or statutory limitation. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication and Registration hereon shall have been lawfully executed by the Bond Registrar. • -3- • IN \VITNESS WHEREOF, the City has caused this Bond to be executed by the manual or facsimile signature of its Mayor and attested by the manual or facsimile signature of its City Clerk, and its corporate seal to be affixed hereto or imprinted hereon, and this Bond to be dated the Dated Date shown above. `o„•„ ` CITY OF SALINA, KANSAS ®f a. . 41,741-0.1./_. 1a,or ATTEST: • • City Clerk •••••• •• • • • • •• • • • _- ---- -- - - -.��•..•• • CERTIFICATE OF AUTIIENTICt\TION AND REGISTRATION • •••••• This Bond is one of a series of General Obligation Internal Improvement Bonds. Series ?W2!I3. of the City of Salina, Kansas, described in the within-mentioned Resolution. •••••• • Registration Date: JUL 2 5 2002 Office of the State Treasurer, Topeka, Kansas as Bond Registrar and Paying Agent 13y: Q/XiriA-- Registration Number: 0322-055-071502-522 • BOND ASSIGNMENT FOR VALUE RECEIVED, the undersigned do(es) hereby sell, assign and transfer to (Name and Address) (Social Security or Taxpayer Identification No.) • the Bond to which this assignment is affixed in the outstanding principal amount of S 0006 , standing in the name of the undersigned on the books of the Bond Registrar. TheyndcrsigneLdo(es) hereby irrevocably constitute and appoint as agent to tt}an:fell said Bond on • ••• the books of said Bond Registrar with full power of substitution in the premises . ••ItLR41 • .400 • • • • • ••66 • • • • • 6••• • 66.6 •• • Name ••• .. . •6•• ' • •6•• • Social Security or Taxpayer Identification No. Signature (Sign here exactly as name(s) appear on the face of Certificate) Signature guarantee: By [Name of Eligible Guarantor Institution as defined by SEC Rule 17ad-15 (12CFR 240.17 Ad-15)or any similar rule which the Bond Registrar deems applicable] S . -5- • • • CERTIFICATE OF CITY CLERK STATE OF KANSAS ) SS. COUNTY OF SALINE I, the undersigned, City Clerk of Salina, Kansas, hereby certify that the within Bond has been duly registered in my office according to law as of July 15,2002. WITNESS my hand and official seal. .... ,oll att./4 ' • • 0000 _ ', • • • *. `%" City Clerk " •••. •••• • • • ----- ---- --- • • • • CERTIFICATE OF STATE TREASURER •••••� •• • ••••� • • • •• • OFFICE OF THE TREASURER,STATE OF KANSAS ••••• • • ••• I, TIM SI-IALLENBURGER, Treasurer of the State of Kansas, do hereby certify that a transcript of the proceedings leading up to the issuance of this Bond has been tiled in my office,and that this Bond was registered in my office according to law on JUL 2 5 2002 - WITNESS my hand and official seal. Treasurer of the State of Kansas • • • 6 r • • LEGAL OPINION I, the undersigned, City Clerk of the City of Salina, Kansas, hereby certify that the following is a true and correct copy of the approving legal opinion of Gilmore & Bell, a Professional Corporation, Attorneys at Law, Kansas City, Missouri, on the within Bond and the series of which it is a part, except that it omits the date of such opinion; that the opinion was manually executed and was dated and issued as of the date of delivery of and payment for the Bonds and is on file in my office. • • / • By / / I / •..•.• City Clerk •••• • • • • • •• •• •••• July 25 2002 •••• • • • • • Governing Body of the City of Salina, Kansas • • ••• •••••• Salina.Kansas "" ••• ••• •• • • Country Club Bank, n.a. • •••• Kansas City, Missouri Re: S1.980,000 General Obligation Internal Improvement Bonds, Series 2002-13, of the City of Salina. Kansas. Dated July 15. 2002 We have acted as bond counsel in connection with the issuance by the City of Salina, Kansas(the "City")of the above-captioned bonds(the"Bonds"). We have examined the law and such certified proceedings and other documents as we deem necessary to render this opinion. As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of public officials furnished to us without undertaking to verify the same by independent investigation. Based upon the foregoing, we are of the opinion, under existing law, as follows: • 1. The Bonds are valid and legally binding general obligations of the Cite, payable as to both principal and interest in part from special assessments levied upon the property benefited by the construction of certain portions of the improvements being financed and, if not so paid, from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The balance of the principal of and interest on the Bonds is payable from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property,real and personal, within the territorial limits of the City. 2. The interest on the Bonds (including any original issue discount properly allocable to an owner thereof) is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations. 411 -7- • It should be noted, however, that for the purpose of computing the alternative minimum tax imposed on corporations (as defined for federal income tax purposes), such interest is taken into account in determining adjusted current earnings. The opinions set forth in this paragraph are subject to the condition that the City comply with all requirements of the Internal Revenue Code of 1986, as amended (the "Code"), that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes. The City has covenanted to comply with each such requirement. Failure to comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income for federal income tax purposes retroactive to the date of issuance of the Bonds. The Bonds are "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code and, in the case of certain financial institutions (within the meaning of Section 265(b)(5) of the Code), a deduction is allowed for 80 percent of that portion of such financial institution's interest expense allocable to interest on the Bonds. We express no opinion regarding other federal tax consequences arising with respect to the Bonds. • • • 3. The interest on the Bonds is exempt from Kansas income taxation. •••••. • • •••••• We have not been engaged or undertaken to review the accuracy, completer! &orsufficienc' •of •••• the Official Statement or other offering material relating to the Bonds (except to the extent: if any, etatcd • • in the Official Statement) and we express no opinion relating thereto (excepting onlyt9te•mptters $et forth as our opinion in the Official Statement). • • •••• • • It is to be understood that the rights of the owners of the Bonds and the enforeciattiU f fy thereo may •••• be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws atieciicg creditors' rights heretofore or hereafter enacted to the extent applicable and their enforcement jttln•bg subject to the exercise of judicial discretion in appropriate cases. •••• • Very truly yours, GILMORE& BELL • -8- RUN DATE 11/02/2011 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 10/01/2011 TO 10/31/2011 Date Interest Principal 10/01/2011 BEGINNING BALANCE 13,553.75 165,000.00 RECEIPTS DISBURSEMENTS CO-AGENTS CALLS MATURITIES 165,000.00- COUPON PAYMENTS REGISTERED INTEREST 13,553.75- PRINCIPAL PAYDOWNS OFFSETS 10/31/2011 ENDING BALANCE ***THIS IS NOT A BILLING STATEMENT*** .. • . .. • •• ••• • • • • EXCEPT AS OTHERWISE PROVIDED.IN T. E•RESOJ.zzUTJQN (DESCRIBED 2 HEREIN), THIS GLOBAL BOND MAX I5E• In NSFERI1ED,:IN WHOLE BUT NOT IN PART, ONLY TO ANO1'HEIt NOMINEE Off'. ThE SECURITIES DEPOSITORY (DESCRIBED HEREIN) OR TO A SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE •OF •ii.8UQCESSOR SECURITIES • • DEPOSITORY. •• • • • • • : •• • •••• REGISTERED REGISTERED NUMBER R-9 $165,000 UNITED STATES OF AMERICA STATE OF KANSAS COUNTY OF SALINE tCITY OF-SAL-INA3 • GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B Interest Maturity Dated CUSIP: Rate: 3.90% Date: October 1, 2011 Date: July 15, 2002 794743 YY4 REGISTERED OWNER: CEDE &CO PRINCIPAL AMOUNT: ONE HUNDRED SIXTY-FIVE THOUSAND DOLLARS KNOW ALL PERSONS BY THESE PRESENTS: That the City of Salina, in the County of Saline, State of Kansas (the "City"), for value received, hereby acknowledges itself to be indebted and promises to pay to the registered owner identified above, or registered assigns, as of the Record Dates as hereinafter provided on the Maturity Date identified above, the Principal Amount identified above, and in like manner to pay interest on such Principal Amount from the Dated Date shown above or from the most recent interest payment date to which interest has been paid or duly provided for at the rate of interest per annum set forth above (computed on the basis of a 360-day year of twelve 30-day months), semiannually on April 1 and October 1 of each year, commencing April 1, 2003 (the "Interest Payment Dates"), until the Principal Amount is paid, unless this Bond shall have been previously called for redemption and payment as hereinafter set forth. The principal of, premium, if any, and interest on this Bond shall be payable by the Treasurer of the state of Kansas,Topeka, Kansas(the "Paying Agent" and "Bond Registrar"). The principal of and any premium on this Bond shall be payable to the registered owner hereof upon presentation of this Bond at the maturity or redemption date to the Paying Agent for payment and cancellation. The interest payable on this Bond on any interest payment date shall be paid to the person in whose name this Bond is registered on the Bond Register at the close of business on the fifteenth day of the month preceding the interest payment date (the "Record Date") for such interest (a) by check or draft mailed by the Paying Agent to such Registered Owner at the address shown on the Bond Register or at such other address as is furnished to the Paying Agent in writing by such Registered Owner or (b) in the case of an interest payment to any Registered Owner of $500,000 or more in aggregate principal amount of Bonds, by electronic transfer to such Registered Owner upon written notice given to the Paying Agent by such Registered Owne(not less than 15 days prior to the Record Date for such interest, containing the electronic transfer-instructions_including_ the Fier:�(F14l;i��)����tl�ikyfttft4n��t1'a}i�t"Epp Mates), Unless This certificate is pies nte�i•I- S {E� yci kl ie ,l,e issuer er its agent fo: Vrus cdmpairy:i55 Wile: Stree.• ;'•�u, ork, .'{' n d is re istered .. ` o'' ortyr.,ent,and any c:e::;.tccr_ issue 9 ro:7isira':w. Cede$�Co. and any.payment is made-to cede-a,kto.;i:LNY TRANSFEts in the.r. 0.01 OR-OTHERWISE By OR TO ANY i"�:..f,rn_rrcr LiFBFQE.PUIi VAT.UE ys,d_ 8, C9. has nn etalSON 15 WRONGFUL, since the -;°td:rq�i uwnef hereof pT;ktON SS WRO� ' e...ct hp,raif. •• • • •• • ... . . S • • • - • SS address, ABA routing number and account nupater tovhiciis wuc+ Re4ist ed'Qwner wishes to have such transfer directed. The principal, premium, if arj, ard;interps •onRhe Bolds slall be payable in any coin or currency which, on the respective dates of p3Ment thereof, is7!g'al tender for the payment of debts due the United States of America. The Bonds constitute general obligations of the City payable as to both principal and interest in part from special assessment/ lei ck) uptm_ the property benefited by the construction of certain portions of the improvements being fin4tced,and; if not so paid, from ad valorem taxes which may be levied without limitation as to rat>s,or'amount uptCall the taxable tangible property, real and personal, within the territorial limits of the City. The balance of the principal and interest on the Bonds shall be payable from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The full faith, credit and resources of the City are irrevocably pledged for the payment of the principal of and interest on this Bond and the issue of which it is a part as the same respectively become due. This Bond is one of an authorized series of Bonds of the City designated "General Obligation Internal Improvement Bonds, Series 2002-B," in an aggregate principal amount of $1,980,000 (the "Bonds") issued for the purposes set forth in the Ordinance of the City authorizing the issuance of the Bonds and the Resolution of the City prescribing the form and details of the Bonds (jointly, the "Resolution"). The Bonds are issued by the authority of and in full compliance with the provisions, restrictions and limitations of the Constitution and laws of the state of Kansas, including, without limitation, K.S.A. 10-101 et seq., K.S.A. 12-6a01 et seq. and K.S.A. 12-1736 et seq., all as amended. At the option of the City, Bonds maturing on October 1, 2013, and thereafter may be called for redemption and payment prior to maturity on October I, 2012 and thereafter, in whole at any time or in part on any interest payment date in such principal amounts for such maturities as shall be determined by the City at the redemption price of 100% (expressed as a percentage of the principal amount), plus accrued interest thereon to the date of redemption. Unless waived by any owner of the Bonds to be redeemed, if the City elects to call any Bonds for redemption and payment prior to maturity, the City or the Bond Registrar and Paying Agent on behalf of the City shall give written notice of its intention to call and pay such Bonds on a specified date, the same being described by maturity, such notice to be mailed by United States first class mail addressed to the Owners of the Bonds not less than 30 days prior to the date fixed for redemption. All Bonds so called for redemption and payment shall cease to bear interest from the date for which such call is made, provided funds are available for the payment of such Bonds at the price specified above. The Bonds are being issued by means of a book-entry system with no physical distribution of bond certificates to be made except as provided in the Resolution. One Bond certificate with respect to each date on which the Bonds are stated to mature, registered in the nominee name of the Securities Depository, is being issued and required to be deposited with the Securities Depository and immobilized in its custody. The book-entry system will evidence positions held in the Bonds by the Securities Depository's participants, beneficial ownership of the Bonds in authorized denominations being evidenced in the records of such participants. Transfers of ownership shall be effected on the records of the Securities Depository and its participants pursuant to rules and procedures established by the Securities Depository and its participants. The City, the Bond Registrar and the Paying Agent will recognize the Securities Depository nominee, while the registered owner of this Bond, as the owner of this Bond for all purposes, including (i) payments of principal of, and redemption premium, if any, and interest on, this Bond, (ii)notices and (iii) voting. Transfers of principal, interest and any redemption premium payments to participants of the Securities Depository, and transfers of principal, interest and any redemption premium payments to beneficial owners of the Bonds by participants of the Securities -2- • •• • • •• •• •.. • • • • • • a • •• • Depository will be the responsibility of such partic:p.t nt� ar d•otth r npntircetre such beneficial owners. The City, the Bond Registrar and the Paying A4en:w=11 no: ti retponsib e or3iable for such transfers of payments or for maintaining, supervising QP•Yev!ewing 1he•records•maintained by the Securities Depository, the Securities Depository nominee, its participants or. persons acting through such participants. While the Securities Depository nomin2e+a thevtnyo( this Bond, notwithstanding the provision hereinabove contained, payments of princip1I•Qf an int rest on this Bond shall be made in accordance with existing arrangements among the City,theBona Regiit 4r and the Securities Depository. EXCEPT AS OTHERWISE PROVIDED IN THE RESOLUTION, THIS GLOBAL BOND MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY OR TO A SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR SECURITIES DEPOSITORY. The Bonds are issued in fully registered form in the denomination of$5,000 or any integral multiple thereof. This Bond may be exchanged at the office of the Bond Registrar for a like aggregate principal amount of Bonds of the same maturity of other authorized denominations upon the terms provided in the Resolution. The City and the Bond Registrar may deem and treat the registered owner hereof as the absolute owner hereof for purposes of receiving payment of or on account of principal hereof and interest due hereon and for all other purposes and neither the City nor the Bond Registrar shall be affected by any notice to the contrary. This Bond is transferable by the registered owner hereof in person or by the registered owner's agent duly authorized in writing, at the office of the Bond Registrar, but only in the manner, subject to the limitations and upon payment of the charges provided in the Resolution and upon surrender and cancellation of this Bond. The City shall pay all costs incurred in connection with the issuance, payment and initial registration of the Bonds and the cost of a reasonable supply of bond blanks. The City and the Bond Registrar shall not be required to issue, register, transfer or exchange any Bonds during a period beginning on the day following the Record Date preceding any Interest Payment Date and ending at the close of business on the Interest Payment Date or Bonds which have been called for redemption in accordance with Article 111 of the Resolution. IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions, and things required to be done and to exist precedent to and in the issuance of this Bond have been properly done and performed and do exist in due and regular form and manner as required by the Constitution and laws of the state of Kansas, and that the total indebtedness of the City, including this series of bonds, does not exceed any constitutional or statutory limitation. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication and Registration hereon shall have been lawfully executed by the Bond Registrar. -3- Ls • .. • • •• .. ••• • • • • • • • • •• • . • •• ••• • • •• ••• •• • • • • • •• •IN WITNESS WHEREOF, the Gu•,,•ha, caused• dn.flond te•bc•ctecuted by the manual or facsimile signature of its Mayor and attested by the manual or facsimile signature of its City Clerk,and its corporate seal to be affixed hereto or imprinted hereg ,ai24 ilia Bcy}fl to be dated the Dated Date shown • above. .• • • • • •• CIT 'OF SALIINA, KANSAS .1:01 1a,or ATTEST: �n City Clerk • CERTIFICATE OF AUTHENTICATION AND REGISTRATION This 13ond is one of a series of General Obligation Internal Improvement Bonds. Series 2002-13. of the City of Salina, Kansas, described in the within-mentioned Resolution. Registration Date: JUL 25 2002 Office of the State Treasurer, Topeka, Kansas as Bond Registrar and Paying Agent By: �.� a Registration Number: 0322-085-071502-522 _1_ • •• • • •• • ••• • • • : • • • • •• • •• NT•'• • • • • • FOR VALUE RECEIVED, the undersigned doSn)shetthyse1l!%sign and transfer to •• • • •• • • • • • • • (Name and Address) (Social Security or Taxpayer Identification No.) the Bond to which this assignment is affixed in the outstanding principal amount of S standing in the name of the undersigned on the books of the Bond Registrar. The undersigned do(es) hereby irrevocably constitute and appoint as agent to transfer said Bond on the books of said Bond Registrar with full power of substitution in the premises. Dated Name Social Security or Taxpayer Identification No. Signature (Sign here exactly as name(s) appear on the face of Certificate) Signature guarantee: By [Name of Eligible Guarantor Institution as defined by SEC Rule 17ad-15 (12CFR 240.17 Ad-l5) or any similar rule which the Bond Registrar deems applicable] -5- .. • • •• .. ••• • • • • • • • • •• • • • • • • • • • . • • • • • • -•. .•• - --- •. —s• CERTIFICATE OF CITY CL• EM • • STATE OF KANSAS ) • •• • • ) SS. •• •• COUNTY OF SALINE I, the undersigned, City Clerk of Salina, Kansas, hereby certify that the within Bond has been duly registered in my office according to law as of July 15, 2002. WITNESS my hand and official seal. • / I - Ct,." r City Clerk • CERTIFICATE OF STATE TREASURER OFFICE OF THE TREASURER, STATE OF KANSAS • I,TIM SHALLENI3URGER, Treasurer of the State of Kansas, do hereby certify that a transcript of the proceedings leading up to the issuance of this Bond has been filed in my office, and that this Bond was registered in my office according to law on JUL 2 5 M WITNESS my hand and official seal. • `/ 11}y� i ' 1hJl Treasurer of the State of Kansas -6- . •• • • •• •• ••• • • • • • • • • •• • • • • • • • • • • • • • • • . ._ ••I •-41. •-- ••• ••••• •• LEGAL•OQLVIOII • • •• •• I, the undersigned, City Clerk of the City of Salina, Kansas, hereby certify that the following is a true and correct copy of the approving legal opinion of Gilmore & Bell, a Professional Corporation. Attorneys at Law, Kansas City, Missouri, on the within Bond and the series of which it is a part, except that it omits the date of such opinion; that the opinion was manually executed and was dated and issued as of the date of delivery of and payment for the Bonds and is on file in my office. By / / j _ / / City Clerk July 25 2002 Governing Body of the City of Salina, Kansas Salina, Kansas Country Club Bank, n.a. Kansas City, Missouri Re: S1,980,000 General Obligation Internal Improvement 13onds. Series 2002-13, of the City of Salina. Kansas. Dated July IS, 2002 We have acted as bond counsel in connection with the issuance by the City of Salina. Kansas(the "City")of the above-captioned bonds(the"13onds"). We have examined the law and such certified proceedings and other documents as we deem necessary to render this opinion. As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of public officials furnished to us without undertaking to verify the same by independent investigation. Based upon the foregoing,we are of the opinion, under existing law,as follows: I. The Bonds are valid and legally binding general obligations of the City, payable as to both principal and interest in part from special assessments levied upon the property benefited by the construction of certain portions of the improvements being financed and, if not so paid, from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The balance of the principal of and interest on the I3bnds is payable from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. 2, The interest on the 13onds (including any original issue discount properly allocable to an owner thereof) is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations. -7- .. • • •• .. ••• • • • • • • • • •. It should be noted, however, that for the purpose of I. mpt�irn;el; alter�ati\ttminimum tax imposed on corporations (as defined for federal income itaxspQrposrs3, s:ch interest is taken into account in determining adjusted current earnings. The•epiniens set•forflt In tHlrpIrtnraph are subject to the condition that the City comply with all requirements of the Internal Revenue Code of 1986, as amended (the "Code"), that must be satisfied subsequent to the issuanua o€the hinds in order that interest thereon be, or continue to be, excluded from gross income•fior•fede�al ittBco4e tax purposes. The City has covenanted to comply with each such requirement. Failve to;omlfly•.tith certain of such requirements may cause the inclusion of interest on the Bonds in gross income for federal income tax purposes retroactive to the date of issuance of the Bonds. The Bonds are "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code and, in the case of certain financial institutions (within the meaning of Section 265(b)(5) of the Code), a deduction is allowed for 80 percent of that portion of such financial institution's interest expense allocable to interest on the Bonds. We express no opinion regarding other federal tax consequences arising with respect to the Bonds. 3. The interest on the Bonds is exempt from Kansas income taxation. _ • We have not been engaged or undertaken to review the accuracy, completeness or sufficiency of the Official Statement or other offering material relating to the Bonds (except to the extent, if any. stated in the Official Statement) and we express no opinion relating thereto (excepting only the matters set forth as our opinion in the Official Statement). It is to be understood that the rights of the owners of the Bonds and the enforceability thereof may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the extent applicable and their enforcement may be subject to the exercise of judicial discretion in appropriate cases. Very truly yours, GILMORE& BELL -g- RUN DATE 05/04/2012 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 04/01/2012 TO 04/30/2012 Date Interest Principal 04/01/2012 BEGINNING BALANCE 10,336.25 RECEIPTS DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED'INTEREST 10,336.25- PRINCIPAL PAYDOWNS OFFSETS 04/30/2012 ENDING BALANCE ***THIS IS NOT A BILLING STATEMENT*** • RUN DATE 10/05/2012 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B 81 # 0322071502522 FROM 09/01/2012 TO 09/30/2012 Date Interest Principal 09/01/2012 BEGINNING BALANCE RECEIPTS 10/01/2012 10,336.25 490,000.00 DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED INTEREST PRINCIPAL PAYDOWNS OFFSETS 09/30/2012 ENDING BALANCE 10,336.25 490,000.00 ***THIS IS NOT A BILLING STATEMENT*** RUN DATE 10/05/2010 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B BI # 0322071502522 FROM 09/01/2010 TO 09/30/2010 Date Interest Principal 09/01/2010 BEGINNING BALANCE RECEIPTS 10/01/2010 16,647.50 165,000.00 DISBURSEMENTS CO-AGENTS CALLS MATURITIES COUPON PAYMENTS REGISTERED INTEREST PRINCIPAL PAYDOWNS OFFSETS 09/30/2010 ENDING BALANCE 16,647.50 165,000.00 ***THIS IS NOT A BILLING STATEMENT*** RUN DATE 11/07/2012 BOND ACTIVITY STATEMENT SUMMARY PAGE 1 0322071502522-SALINA • CITY OF SALINA GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND SERIES 2002-B 81 # 0322071502522 FROM 10/01/2012 TO 10/31/2012 Date Interest Principal 10/01/2012 BEGINNING BALANCE 10,336.25 490,000.00 RECEIPTS DISBURSEMENTS CO-AGENTS CALLS 490,000.00- MATURITIES COUPON PAYMENTS REGISTERED INTEREST 10,336.25- PRINCIPAL PAYDOWNS OFFSETS 10/31/2012 ENDING BALANCE ***THIS IS NOT A BILLING STATEMENT***